Minnesota SF5059: Minnesota investment fund local government loan repayment funds restrictions temporary modification

What the bill says

A bill for an act relating to economic development; temporarily modifying the restrictions on use of Minnesota investment fund local government loan repayment funds; requiring a report.

From the introduced text, April 8, 2026:

A bill for an act relating to economic development; temporarily modifying the restrictions on use of Minnesota investment fund local government loan repayment funds; requiring a report. Section 1. new text begin [ADDED: ONETIME EXCEPTION TO RESTRICTIONS ON USE OF MINNESOTA INVESTMENT FUND LOCAL GOVERNMENT LOAN REPAYMENT FUNDS.] new text end new text begin [ADDED: (a) Notwithstanding Minnesota Statutes, section 116J.8731, a home rule charter or statutory city, county, or town that has uncommitted money received from repayment of funding awarded under Minnesota Statutes, section 116J.8731, may choose to transfer 20 percent of the balance of the uncommitted money to the state general fund before June 30, 2027. Any local entity choosing to transfer the balance under this paragraph may then use the remaining 80 percent of the uncommitted money as a general purpose aid for any lawful expenditure.] new text end new text begin [ADDED: (b) By February 15, 2028, a home rule charter or statutory city, county, or town that exercises the option under paragraph (a) shall submit to the chairs and ranking minority members of the legislative committees with jurisdiction over economic development policy and finance an accounting and explanation of the use and distribution of the money.] new text end new text begin [ADDED: EFFECTIVE DATE.] new text end new text begin [ADDED: This section is …

Read the full official text

Sponsors

• Gene Dornink (R) · primary sponsor

Latest actions

1. April 9, 2026: Referred to Jobs and Economic Development
2. April 9, 2026: Introduction and first reading

Common questions

What is SF5059?

SF5059 is a bill in the Minnesota Legislature (94th Legislature 2025-2026): Minnesota investment fund local government loan repayment funds restrictions temporary modification.

What does SF5059 do?

In its own words: A bill for an act relating to economic development; temporarily modifying the restrictions on use of Minnesota investment fund local government loan repayment funds; requiring a report.

What is the status of SF5059?

In committee as of April 9, 2026. Latest action: Referred to Jobs and Economic Development (April 9, 2026).

Who sponsored SF5059?

Gene Dornink (R).

Where is the official record for SF5059?

On the Minnesota Legislature website: https://www.revisor.mn.gov/bills/bill.php?f=SF5059&y=2025&ssn=0&b=senate